TRON Blockchain thrives, Terra 2.0 after hard fork, Ethereum dominates DeFi

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Synthesize and analyze the entire market in week 23 through infographics to bring valuable insights to readers: TRON Blockchain thrives, Terra 2.0 after hard fork, Ethereum dominates DeFi.



This is the "On The Road" series, written to summarize the events taking place during the week through Infographic images, providing market insights in the most intuitive way for readers.

Market overview for the week of 23/2022

The most noticed tokens by the market in week 23

Over the past week, topping the list of most searched tokens has been the OP of Optimism as the ecosystem airdropped thousands of dollars worth of its early users.

Second on the list is LUNC, the Terra blockchain token, and third is DOME, the token of the first hyper-realistic metaverse project from Digital Frontier.

In this week's list, there are 2 new tokens: USDS, a stablecoin of the Stably project, and CCT, a token of the project developed on the Algorand ecosystem .

Source : Coin98 Insights

Panoramic picture of the 23rd week of 2022

Here are the notable events that took place this past week:

  • Launch and launch events: Sphere Merit Circle gaming market introduction, Coinbase Talent Hub launch, Majar exchange going live, beta release of Ethereum Ropsten proof-of-stake.
  • Other events: Binance under investigation for BNB ICO, software bug found on Osmosis Zone.
    Source: Coin98 Insights

Highlights in DeFi Categories for the week of 23/2022

The most talked about NFT projects on Twitter

NFT has become a hot trend when it comes to providing users with authentication and ownership rights in the digital field, which users are lacking. Most of the prominent crypto projects include NFT in their product suite.

In the past week, Tezos was the most talked about NFT project on Twitter with 11,620 times. Since its inception in 2017, Tezos has grown tremendously, bringing its total market cap to $1.8 billion.

Recently, Tezos has accelerated the development of NFT when continuously participating in and co-organizing NFT exhibitions around the world such as Art Basel in Hong Kong, Fabriclondon in the UK, Sonarplusd in Barcelona...

In addition, Tezos also launched the metaverse project tz1land, or ArtusNFT tool that allows users to turn TVs, tablets, monitors into frames and NFT art displays. Besides, Tezos also cooperated with GAP, a famous fashion brand from the US, to launch a fashion NFT collection.

Second on the list is Stepn , the Move To Earn project that has stormed the market recently with 6,374 mentions on Twitter. Followed by Rarible, a decentralized NFT exchange that supports Ethereum, Tezos, Flow, and Polygon.

Source : Coin98 Insights

Blockchain games receive a lot of attention

Play to Earn continues to be a trend strongly welcomed by the community. Here is a list of the top 10 games that the community is most interested in in the past week.

The game that received the most attention continued to be LoserChick, a fun game about chickens developed on the Polygon ecosystem. Following the list are familiar titles like Decentraland and Axie Infinity.

In particular, there are three new games on the list, DungeonSwap, TAROVERSE and Multigame. These are all role-playing games or metaverse, launched on Binance Smart Chain.

Source : Coin98 Insights

Comparison table of the number of wallets between chains

Below is a comparison table of the number of wallets created between chains. In which, Ethereum is the blockchain with the most number of wallets created, followed by BNB Chain and Polygon respectively.

Besides, Optimism and Near are the 2 blockchains with the highest growth rate of wallets created. Details can be found in the table below.

Source : Coin98 Analytics

Overview of TVL on blockchains

Ethereum continues to be the dominant blockchain in the DeFi space with a TVL of $63.8 billion, down 47.2 billion from May.

Overcoming Terra and rising to second place is BNB blockchain with $7.8 billion, although the amount of TVL also decreased by $ 4.2 billion. This happened because in May UST had a peg loss which led to the collapse of the Terra blockchain and dragged the market down.

Going from 6th place with TVL 4.3 billion USD in May, TRON blockchain has climbed to 3rd place with TVL 6.1 billion USD this month. After launching the USDD algorithmic stablecoin and allowing users to receive interest rates up to 30% depending on the time and holding period, TRON has attracted a large number of users to it. However, the use of volatile assets like BTC and TRX as reserve assets exposes the TRON blockchain to the risk of having the same fate as the Terra blockchain.

Source : Coin98 Analytics

Overview of the Chainflip . project

Chainflip is a decentralized protocol that allows cross-chain swapping between different blockchains like Ethereum, Polkadot, Solana, Cosmos… without collateral, specialized software or custom wallets. Chainflip's token is FLIP, which is used as collateral by validators. For each cross-chain swap on the Chainflip protocol, users only need to pay fees ranging from 0.1% to 0.2%.

Below is a one-page for Chainflip compiled from Coin98 Insight team.

Source : Coin98 Insights

Highlights in the ecosystem last week

Terra Ecosystem 2.0

Terra 2.0 is Terra's new blockchain, this chain does not replace the current Terra but works in parallel.

After the successful hard fork, 55 projects, more than half of DeFi projects built on Terra Classic, were migrated to Terra 2.0. These projects can be mentioned as Mars Protocol, Sigma Protocol, Knowhere, Swapper, Neptune Finance...

With the increasing number of projects on Terra 2.0, it shows the rapid recovery and development of Terra.

Learn more: Terra 2.0 officially launched, how are the projects on the system?

Source : Terrians

Solana Ecosystem

In the past week, Solana ecosystem has partnered with Chainlink, OpenSea, Alchemy and launched a $100 million investment fund for Web3 companies in Korea.

In addition, Chillchat, Aurory and DeFi Land also rose to become the 3 featured games of the week on the Solana ecosystem. These are all interesting, highly entertaining games.

Source : Solanians

Near Protocol Ecosystem

Cross-chain bridge is a Cross-chain bridge that allows the transfer of crypto assets, tokens or data from one Blockchain to another, which includes layers 1, 2, sidechain and childchain.

The Near Protocol ecosystem has been growing strongly with 7 cross-chain bridge projects built on Near such as Rainbow Bridge, Multichain, Allbridge... This allows users to move assets between Near with many other ecosystems such as Ethereum, Binance Smart Chain, Polygon, Solana…

Source : Nearians

summary

Above are all the notable infographics of week 23 made by Coin98 Insights team. If there are errors in the synthesis of information or any problems, you can comment through the comment section below! See you in the next issue of “On The Road”!
 

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